Intellia Therapeutics (NASDAQ:NTLA) Posts Quarterly Earnings Results

by · The Markets Daily

Intellia Therapeutics (NASDAQ:NTLA – Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11), FiscalAI reports. Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%. The business had revenue of $7.16 million during the quarter, compared to the consensus estimate of $9.74 million. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. The company’s revenue was down 47.8% compared to the same quarter last year.

Intellia Therapeutics Stock Up 2.3%

Shares of NTLA traded up $0.25 during trading hours on Friday, reaching $11.35. 4,402,763 shares of the stock traded hands, compared to its average volume of 5,430,535. The company’s 50-day moving average price is $12.09 and its two-hundred day moving average price is $13.05. Intellia Therapeutics has a 52-week low of $7.95 and a 52-week high of $18.48.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Intellia Therapeutics in a report on Wednesday, September 9th. Barclays initiated coverage on Intellia Therapeutics in a research report on Tuesday, October 6th. They set an “underweight” rating and a $8.00 price objective on the stock. Wolfe Research downgraded Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 target price on the stock. in a report on Wednesday, July 15th. Finally, Citigroup reissued a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Intellia Therapeutics currently has an average rating of “Hold” and a consensus target price of $20.57.

Get Our Latest Stock Analysis on NTLA

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 9,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $11.99, for a total value of $107,910.00. Following the sale, the chief executive officer owned 1,138,064 shares in the company, valued at $13,645,387.36. The trade was a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by company insiders.

About Intellia Therapeutics

(Get Free Report)

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.

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